Coverage on Part time employee in the gratuity policy ?
This query is : Resolved
13 November 2009
Dear Sir,
We are a Pvt Ltd Co & having a separate gratuity fund for our employees.
Is it mandatory to give the gratuity policy coverage even too a person on a part time employment with us for a short period , say 9-12 months ??
Kindly reply
Subhash Jha
We are a Pvt Ltd Co & having a separate gratuity fund for our employees.
Is it mandatory to give the gratuity policy coverage even too a person on a part time employment with us for a short period , say 9-12 months ??
Kindly reply
Subhash Jha
13 November 2009
Gratuity payble for 5 yr complition of service.
13 November 2009
For the Employees working in Pvt Ltd., has to work for 5 years where the employee is eligible for the Gratuity.
The Calculation of Gratuity is 15*Basic Salary/ 26.
The Calculation of Gratuity is 15*Basic Salary/ 26.
13 November 2009
Details are as.......
Every employee who has rendered continuous service for not less than five years shall be entitled to gratuity on his superannuation or on his retirement or resignation or on his death or disablement in Form - I. In case of seasonal establishments, gratuity shall be payable at the rate of 7 days wages for each season. The maximum gratuity payable under this Act is Rs. 3.5 lakhs.
Every employee who has rendered continuous service for not less than five years shall be entitled to gratuity on his superannuation or on his retirement or resignation or on his death or disablement in Form - I. In case of seasonal establishments, gratuity shall be payable at the rate of 7 days wages for each season. The maximum gratuity payable under this Act is Rs. 3.5 lakhs.
13 November 2009
Agree with experts
13 November 2009
Dear Sirs,
My actual problem is not the gratuity payment.
We are having a gratuity policy with ICICI pru. & we inform them on each month regarding employees joining / leaving & any salary changes.
They do a fresh calculation of liability on monthly basis & we need to pay to them the difference , if any , arises out of these employment or salary change.
Now, my question is : if it is mandatory to include the salary payable to the part timers too under this scheme , as the person has joined us only in the last month on part time employment ???
kindly reply
Subhash Jha
My actual problem is not the gratuity payment.
We are having a gratuity policy with ICICI pru. & we inform them on each month regarding employees joining / leaving & any salary changes.
They do a fresh calculation of liability on monthly basis & we need to pay to them the difference , if any , arises out of these employment or salary change.
Now, my question is : if it is mandatory to include the salary payable to the part timers too under this scheme , as the person has joined us only in the last month on part time employment ???
kindly reply
Subhash Jha
13 November 2009
If the part timer is comming regularly ie hours are same for each day, or he is comming once in a week, then he is also eligible for gratuity.
For informing icici you have to inform the monthly payment from you. He is also eligible for gratutity.
Please refer to definition of employee under gratutiy it is clearly defined that part time employees are also eligible for payment of gratutiy if they complete 5 years with you in future.
For informing icici you have to inform the monthly payment from you. He is also eligible for gratutity.
Please refer to definition of employee under gratutiy it is clearly defined that part time employees are also eligible for payment of gratutiy if they complete 5 years with you in future.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
